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Hindenburg hits back at Adani, says latter's fraud cannot be obfuscated by nationalism

Hindenburg hits back at Adani, says a fraud cannot be obfuscated by nationalism

Hindenburg has rejected Adani Group's charge that its report was an attack on India, saying a "fraud" cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations.&nbsp;

As the Indian stock market was to open Monday, all eyes were set on stocks of Adani Group companies, a day after it released a 413-page response to allegations of wrongdoing by US short seller Hindenburg Research.
Commenting on the response Adani Group released on Sunday in response to its report, Hindenburg said it believed India was a vibrant democracy and an emerging superpower with an exciting future and it was Adani Group which was holding it back through "systematic loot".
Hindenburg has rejected Adani Group's charge that its report was an attack on India, saying a "fraud" cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations.&nbsp;
Also Watch: <a href="https://www.editorji.com/india-news/politics/rahul-gandhi-says-chinese-sitting-on-indian-land-asks-centre-to-deal-with-it-firmly-1675049268351">Rahul Gandhi says 'Chinese sitting on Indian land'; asks Centre to deal with it 'firmly'</a>

Share of Life Insurance Corporation (LIC) of India fell more than five percent on Monday as the lock-in period for anchor investors end.
At the IPO price of Rs 949 per share, the stock has dipped around 28 percent so far, calculating a huge loss to the investors.
Anchor investors had bought 59.3 million shares of the company at the issue price of Rs 949 per share. The Government of Singapore, SBI Mutual Fund, HDFC Mutual Fund, and Axis Mutual Fund were among the major investors who had participated in the IPO.

LIC: Lock-in ends, retail investors hammered

Share of Life Insurance Corporation (LIC) of India fell more than five percent on Monday as the lock-in period for anchor investors end.

The Government of Singapore, SBI Mutual Fund, HDFC Mutual Fund, and Axis Mutual Fund were among the major investors who had participated in the IPO.

Share of Life Insurance Corporation (LIC) of India fell sharply in Monday's trade as the lock-in period for anchor investors end. Dropping below the Rs 700/share mark this govt owned entity is making retail investors' portfolio bleed.&nbsp;
At the IPO price of Rs 949 per share, the stock has dipped around 28 percent so far, calculating a huge loss to the investors.
Anchor investors had bought 59.3 million shares of the company at the issue price of Rs 949 per share. 70% of the anchor book was domestic investors. The Government of Singapore, SBI Mutual Fund, HDFC Mutual Fund, and Axis Mutual Fund were among the major investors who had participated in the IPO.

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